Battery Separator Market to Witness a Double Digit CAGR by 2025
According
to TechSci Research report, “Global Battery
Separator Market By Type (Lithium-Ion Battery Separator and Lead-Acid
Battery Separator), By Material (Polyethylene, Polypropylene and Others), By End-use
Industry (Automotive, Consumer Electronics, Industrial and Others), By Region, Forecast
& Opportunities, 2025”, the market is expected to undergo a double digit CAGR during
the forecast period. Key factors driving the growth of global battery separator
market are increasing demand and production of consumer electronic gadgets,
growing vehicle electrification and improvement in li-ion batteries.
Furthermore, advancement in technology and utilization of batteries in energy
storage devices are anticipated to provide profitable growth opportunities for
battery separator manufacturers in the coming years. Apart from that, automakers
are investing billions on the manufacturing of electronic vehicles owing to increase
in GHG emissions and incentives being provided by various governments, which is
another major factor supporting the growth of global battery separator market.
Furthermore, growing awareness and implementation of
strict regulations pertaining to environmental safety in various economies are positively
impacting the battery separator market growth. In addition to this, increasing
population and industrialization are leading to rise in sale of various
electronic devices such as smartphones, laptops, etc. which is further
propelling the growth of global battery separator market. With growth in
automotive and consumer electronic industries, the battery separator market is
poised to witness a significant growth over the next five years. However, the
market is also facing some challenges. Low heat resistance of separators and
various safety concerns related to batteries are likely to hinder the market
growth.
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The global battery separator market is segmented based
on type, material, end-use industry and region. Based on type, the market can
be categorized into lithium-ion battery separator and lead-acid battery
separator. Among them, the lithium-ion battery separator segment dominated the
market in 2019 and the segment is further expected to maintain its dominance
during the forecast period. The reasons
can be attributed to growing utilization of lithium-ion battery in electric
hybrid vehicles and the declining prices of this battery technology.
Based
on end-use industry, global battery separator market can be split into automotive,
consumer electronics, industrial and others. Out of them, the automotive
segment is anticipated to lead the battery separators market during the
forecast period owing to rapid technological advancements leading to improved
battery cell chemistry which results in reduced weight of battery packs.
Major players operating in the global battery
separator market are Toray Industry, Asahi Kasei, SK Innovation, Freudenberg,
Entek International, W-Scope Industries, Ube Industries, Sumitomo Chemical,
Dreamweaver International, Bernard Dumas, Cangzhou Mingzhu Plastic, Celgard,
Daramic, Foshan Jinhui Hi-Tech Optoelectronic Material, Henan Yi Tang New
Energy Technology, Hunan Chinaly New Materials, Porous Power Technologies,
Shenzhen Senior Technology Material, among others. Companies are adopting
growth strategies such as new product launches, mergers & acquisitions, strategic
partnership, agreements and joint ventures in order to increase their share in
global battery separator market.
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“Increasing
demand for battery materials in developing nations such as China and India are
likely to make Asia Pacific fastest growing market for battery separator market
during the forecast period. Moreover, growing sale of industrial batteries and material
handling equipment are also providing new growth opportunities for battery
separator market in the region, ” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Global Battery Separator Market By Type (Lithium-Ion
Battery Separator and Lead-Acid Battery Separator), By Material (Polyethylene,
Polypropylene and Others), By End-use Industry (Automotive, Consumer
Electronics, Industrial and Others), By Region, Forecast & Opportunities,
2025” has evaluated the future growth potential of battery
separator market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global battery separator market.
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